5 Ways To Make Money At Online Government Auctions
The business of purchasing government seized properties at auctions and reselling
them at a profit could be a very lucrative one provided you also bid on online government auctions that sell everything from seized real estate to vehicles, jewelry and more. How then do you make a killing in such auctions?
*The procedure in fact, is simple. All you need to have is a computer with an internet connection and log on to any U.S government website that is a combination of auctions from all relevant government agencies. This acts a one-stop-shop and gives you the liberty of shopping for all items under one roof. All you need is the auction list and place your bids accordingly. The highest bidder wins.
*In order to make money from online government auctions you first need to sign up on the relevant and appropriate government site after careful selection in consultation with those who are already registered and who have got some excellent bargains out of them. This will also ensure a ready and regular supply of up-to-date auction lists in your mailbox without you having to search for them.
*Make a quick assessment of the items available on the lists and prepare a budget for those items that you intend buying. On the day of the auction, you can log in and start bidding while also keeping a close watch on your budget so that you don't end up over bidding.
*The bidding process involves clicking on the bid button which is usually red in color and is placed on the top right hand corner of your screen. The registration information then needs to be filled in to confirm the bid. However, multiple registrations may be required if you are placing bids on a host of items being offered by different agencies.
*While bidding, keep a close track of other bids so that you can increase your bid to finally get the item you desire. The bidding process is actually somewhat similar to eBay and online government auctions usually are held over a period of seven days. Once the bid is won, a notification will be sent through email and the payment needs to be made within forty eight hours by either cash, credit card or money order. The items of course, need to be collected by you personally within ten days after the winning bid.
Even though these are time tested and proven ways of making money in online government auctions, it always pays to inspect the goods first before bidding for them. This will help prevent buying damaged articles which are often found in online auctions.